Leeds print group Communisis celebrates six months of strong progress
Published Date:
27 August 2008
Business Editor
LEEDS-based print group Communisis said today that it had made further strong progress in the six months ended June 30, with results ahead of management expectations.
Profit from operations (before exceptional gains) was up by 92 per cent to £7.6m (2007: £4m).
Profit after tax of £4.6m was up 110 per cent on the £2.2m achieved last year.
the company said net debt had been reduced to £15m, from the £26.3m recorded at the end of 2007, while earnings per share were up 110 per cent to 3.30p (2007: 1.57p).
The interim dividend is increased to 0.860p per ordinary share (2007: 0.818p).
Communisis said profitability had been improved across all operations through focus on value-added services.
Chief executive, Steve Vaughan, said: "These interim results mark the end of the second phase of our three-phase plan, outlined at the start of 2007.
"Operational performance, profits and cashflows are much improved because of the progress we have made. Our balance sheet is considerably stronger.
"The key to continued strong performance, economic conditions notwithstanding, is to ensure we expand our range of capabilities further up the value chain.
"Our balance sheet gives us the chance to invest in the business, the skills of our staff, high technology manufacturing and further service development. We will also begin to consider small acquisitions, to complement our existing capabilities.
"In the meantime, the established profitable run-rate throughout the business, strong balance sheet and sales performance and continued opportunities for efficiency gains mean we are positioned to continue to perform in line with management expectations for both profit and cash generation."
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Last Updated:
27 August 2008 8:39 AM
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Source:
n/a
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Location:
Leeds